ChainCatcher message, according to Jinshi reports, former chairman of the China Securities Regulatory Commission, Xiao Gang, stated on December 22 at the National Wealth Development Research Cooperation Platform's "AI + Finance" summit that artificial intelligence is a "double-edged sword". On one hand, it has led a new round of technological and industrial revolutions, profoundly changing social production and life, and also significantly altering the business forms and models of the financial industry. On the other hand, it has also produced various risks and challenges.
From the perspective of smart finance, Xiao Gang believes that artificial intelligence has greatly enhanced the ability of financial institutions to identify, warn, and control risks, but it has not dispersed or eliminated financial risks. Therefore, the essence of smart finance remains finance, and it must adhere to the fundamental laws of finance. To strengthen the governance of financial AI algorithms and models, Xiao Gang believes that an algorithm model governance framework should be established, with laws and regulations at the top level, along with goals, organization, tasks, and ecology.